GM to recall additional EV bolts at a cost of 1 trillion won Policy for claiming compensation from LG

General Motors announced on the 20th that it will recall an additional 73,000 electric car Chevrolet Volt at a cost of 1 billion dollars (local time) and about 1.18 trillion won in Korean money.

Additional recalls apply to 2019-2022 models sold in the United States and Canada.

Reuters reported that GM will receive a promise to compensate for the recall costs from battery supplier LG Energy Solutions.

GM previously recalled 69,000 Bolt electric vehicles worldwide, but two fires in vehicles equipped with LG Energy Solutions' batteries were the background to the recall decision.

According to CNBC, the cost of replacing the battery module of the Bolt electric vehicle by GM, including those subject to additional recalls, is $1.8 billion, or about 2.10.3 trillion won in Korean money, CNBC reported.

GM added that it is working with LG Energy Solutions to determine the cause of the battery failure.

(Photo = Getty Images Korea)